STORY:
CIO's Stashing Cash for Y2K

CIO Magazine poll reveals top executives' Y2K plans

- A new CIO KnowPulse poll, conducted by IDG's CIO magazine, shows chief information officers (CIOs) and other business executives are planning to have significant amounts of cash handy on January 1, 2000. The majority (65%) of the 191 respondents plan to have more than $500 on hand, with 34% indicating they will have more than $1,000 and 8% indicating they will have more than $5,000. Further, 84% of respondents plan to have this amount in cash.

"CIOs are closer to the realities of Y2K than any other group of people," says Abbie Lundberg, Editor in Chief of CIO magazine in a company press release. "While many of them have completed Y2K remediation for their companies and are confident of a Y2K fix, the fact that they are planning to accumulate cash shows there is still a level of doubt or concern."

In addition to personal finance plans for Y2K, results also show overwhelming support (74%) for the Federal Aviation Administration (FAA) to ground all air carriers that failed to respond to an FAA survey on Y2K readiness by October 5, 1999. (Senator Christopher Dodd (D-CT), vice-chairman of the United States Senate's Special Committee on the Year 2000 Technology Problem, proposed that these non-responsive air carriers should be grounded.)

In other Y2K news, technology and business executives are cautiously preparing for the date rollover:

-- 80% plan to document financial records;

-- 25% plan to stockpile canned goods;

-- 33% plan to stockpile water;

-- 9% plan to upgrade personal security measures;

-- 53% will not fly on a commercial airplane;

-- 27% plan to work on New Year's Eve (16% by choice, 11% by mandate).

Source: CIO Magazine Press Release

DATE: 10/6/99

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